Good call for them
Cryptocurrency reality
- Thread starter scoot
- Start date
Good call for themHuh ?
It’s an investment, the value of the coin is worth what it is to the holder.
You could say the same thing about a company selling 160 times it’s earnings which is Tesla
The fact of the matter is if you bought just one bitcoin five years ago you increased in value from $8000-$80,000 today in five years one coin. You could’ve even sold it for $100,000.
It’s a speculative investment, no different than people who invest in mining companies, looking for gold and precious metals or petroleum or a whole host of other things.
Since it is speculative invest no more than you can afford to lose. To be quite honest, the darling what it seems at times of Wall Street Tesla has been far less stable over the last three years than bitcoin but forget all that it’s a speculative investment just like a stock that sells 100 times earnings
Hardly jealoustook some mad $ and bought at $4kyrs ago
don't be jealous
I agree. However, since its inherent internal volatility is so high, it's one heck of a trading vehicle.
People love to dump on gold , should it be a major holding in your portfolio ? No . I'd rather have a pocket full of gold coins than bitcoins if it really got tough in the world.
Remember back in the Ukraine many years ago when people were taking wheelbarrows full of money to buy a loaf of bread . They could have bought the whole bakery with a gold coin . Or they could show them a piece of paper saying that they own a Bitcoin on a computer in Shanghai .
Remember back in the Ukraine many years ago when people were taking wheelbarrows full of money to buy a loaf of bread . They could have bought the whole bakery with a gold coin . Or they could show them a piece of paper saying that they own a Bitcoin on a computer in Shanghai .
That's how all fiat currency works. However BTC requires more investment to produce than typical fiat.
The answer is both.
Gold has advantages and disadvantages over BTC. Use them to compliment your portfolio.
you obviously don't know how this crypto stuff works.
With a few keystrokes on my coinbase acct it becomes $cash$
Then I can buy oil & filters
US currency is not worth much if it can only be used to buy Fiats. the last FIAT dealer in the USA closed years ago.
Dang! No one ever told me that. Oil and filters? I'm in!you obviously don't know how this crypto stuff works.
With a few keystrokes on my coinbase acct it becomes $cash$
Then I can buy oil & filters
Just changed the oil in my 06 Lacrosse 3800 with Mobil Delvac 15W40 and a Fram OCOD. Coulda maybe used the right oil and upgraded to a Fram TG had I been properly informed.
He's referring to gold not cryptographic currency.you obviously don't know how this crypto stuff works.
With a few keystrokes on my coinbase acct it becomes $cash$
Then I can buy oil & filters
With BTC you don't need a military to defend your property rights. You could "take" my BTC and you'd be unable to spend it, it would remain mine.
SammyChevelleTypeS3
$50 site donor 2023
Nephew tried to talk me into going in with him on it. He simply put $1000 and been sitting on it. Doesnt really matter since he and his wife are loaded with so much they cant even spend what they already have. I notice I have not seen him in a long time....................? I am very happy for him. Hope he cashed it out but probably riding it, knowing him.
Take a step back and realize we are fundamentally talking about blockchain technology. Blockchain is real and currently maturing nicely. There are several sectors actively using blockchain because it's secure, transparent, immutable, decentralized, etc.
It is virtually certain that sometime in the future some form of agreed upon and spendable currency will be blockchain based. People will carry around wallets on their phones that they transferred some of their crypto to and spend it just like we pay for things with tap now. When that happens and you bought that crypto early, you are going to be very rich. I believe it's also not likely that any of the current cryptos of today will be the chosen form of currency in the future, but crypto currency is eventually going to happen.
Today, any money you put into crypto needs to be Las Vegas money. When you're too busy to go to Vegas, just by some crypto.
It is virtually certain that sometime in the future some form of agreed upon and spendable currency will be blockchain based. People will carry around wallets on their phones that they transferred some of their crypto to and spend it just like we pay for things with tap now. When that happens and you bought that crypto early, you are going to be very rich. I believe it's also not likely that any of the current cryptos of today will be the chosen form of currency in the future, but crypto currency is eventually going to happen.
Today, any money you put into crypto needs to be Las Vegas money. When you're too busy to go to Vegas, just by some crypto.
I would say bitcoin was this until Wall Street got involved. Now I am not so sure.
If you’re in a country with 50% inflation and limited banking options your opinion of bitcoin would likely be much different.
When you live in the land of the global reserve currency it’s easier to cast judgement.
I agree that the meme coins are pretty much fraud though.
When you live in the land of the global reserve currency it’s easier to cast judgement.
I agree that the meme coins are pretty much fraud though.
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Bitcoin confuses me as an investment because it doesn't grow like a mutual fund. Mutual funds pay capital gains, I re invest for additional shares. Those shares then pay capital gains. The cycle repeats.
Years later, I have a whole bunch of shares paying lots for capital gains.
But owning bitcoin doesn't create more ownership periodically.
Years later, I have a whole bunch of shares paying lots for capital gains.
But owning bitcoin doesn't create more ownership periodically.
Buying bitcoin is like buying eggs at a store that has 10,000 eggs that cannot leave the store. You may own an egg, but all you can do with it is sell it to someone else wanting to buy an egg.
